Anti-establishment populism is sweeping the globe.
In June, the United Kingdom voted to leave the European Union and in November, Americans elected Donald Trump.
Now the latest body blow to the globalists comes from Italy.
Italian Prime Minister Matteo Renzi pushed for a referendum on a series of Constitutional reforms for his country.
Renzi’s referendum was a series of proposals on the makeup of the government and the scope of its powers.
Establishment institutions such as the banks and Renzi’s center-left Democratic Party backed the reforms.
Renzi, along with his globalist allies German President Angela Merkel and former British Prime Minister David Cameron, pledged to resign if the referendum was defeated.
The opposition to the referendum was led by anti-establishment populist groups Five Stars and the Northern League – which are nationalist groups that oppose mass immigration.
The “No’s” crushed Renzi’s reforms by 60% to 40% at the ballot box, and the victory was interpreted as a win for the populists and another crushing defeat for the globalists.
Populists in Italy and throughout Europe rejoiced at Renzi’s downfall, with the founder of the anti-establishment Five Star movement Beppe Grillo calling for an election “within a week”.
Grillo said a snap election should be held on the basis of a recently adopted electoral law designed to ensure the leading party has a parliamentary majority — a position the populist movement could find itself in at the next election.
“The people have won,” Matteo Salvini, head of Italy’s anti-immigrant Northern League party cheered on Twitter, with Marine Le Pen of France’s far-right National Front sending him and the Italian people “congratulations on this victory”.
Britian’s eurosceptic Nigel Farage, who spearheaded the “Brexit” campaign, said the vote looked “more about the euro than constitutional change”.
With Renzi’s now expected resignation, Italian President Sergio Mattarella will have to either choose a new Prime Minister or call for new elections.
If there are new elections, polls show the populist Five Star movement is poised to make major gains.
The Five Star movement has also called for a non-binding referendum vote on leaving the European Union.
A victory there could embolden the populists to push for Italy’s exit from the EU.
As Europe’s fourth-largest economy, an exit from the European Union could lead to the total collapse of the common market.
Populists will have two more chances to drive the stake through the heart of the globalists.
Marine Le Pen – the leader of France’s National Front – could be elected as President of France.
And German Chancellor Angela Merkel – whose decision to accept over 1 million Muslim refugees is what struck the match and lit the populist movement on fire across the globe – is also up for re-election.
The nationalist wave of 2016 that pushed Britain out of the EU and helped elect Donald Trump could continue to wash across the globe in 2017.
Do you think the globalists will continue to suffer massive defeats in 2017?
Let us know what you think in the comment section.